Iceland is planning to expand its chain of 844 frozen food stores with 40 new sites this year, with the creation of 1,250 jobs.
The company said it has demonstrated its ability to withstand intense competition and outperform the major grocers by using products and services, the convenient nature of its store locations in local catchments, and by maintaining its competitive edge on price.
Despite that, the past year was one of 'major investment' for Iceland as it opened 43 new stores in the UK, took online shopping to 280 outlets and stepped up international expansion with two stores in the Czech Republic and food exports to South Africa and the Middle East.
The retailer also bought out its franchise partner in the Republic of Ireland. The company is planning further international moves this year helped by its shareholders Brait in South Africa and Landmark Group in the Middle East.